Edgestream Partners L.P. Takes $2.22 Million Position in Huntington Ingalls Industries, Inc. $HII

Edgestream Partners L.P. purchased a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,192 shares of the aerospace company’s stock, valued at approximately $2,220,000.

Other large investors have also bought and sold shares of the company. Mackenzie Financial Corp bought a new position in shares of Huntington Ingalls Industries in the first quarter worth approximately $268,000. Harbour Investments Inc. boosted its position in Huntington Ingalls Industries by 50.0% during the 1st quarter. Harbour Investments Inc. now owns 393 shares of the aerospace company’s stock valued at $80,000 after buying an additional 131 shares during the period. US Bancorp DE boosted its position in Huntington Ingalls Industries by 5.3% during the 1st quarter. US Bancorp DE now owns 4,105 shares of the aerospace company’s stock valued at $838,000 after buying an additional 206 shares during the period. PNC Financial Services Group Inc. grew its holdings in Huntington Ingalls Industries by 24.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,489 shares of the aerospace company’s stock worth $2,956,000 after acquiring an additional 2,850 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Huntington Ingalls Industries in the first quarter valued at about $219,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Up 2.3%

Shares of NYSE:HII opened at $316.19 on Friday. The firm has a market capitalization of $12.41 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.60 and a beta of 0.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.14. The stock has a 50 day moving average price of $300.70 and a 200-day moving average price of $269.92. Huntington Ingalls Industries, Inc. has a 52-week low of $158.88 and a 52-week high of $330.00.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.29 by $0.39. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 earnings per share. As a group, equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, November 28th. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 38.12%.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 787 shares of Huntington Ingalls Industries stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $314.17, for a total transaction of $247,251.79. Following the completion of the transaction, the vice president directly owned 20,441 shares in the company, valued at approximately $6,421,948.97. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher D. Kastner sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $321.06, for a total value of $4,815,900.00. Following the completion of the sale, the chief executive officer directly owned 68,139 shares in the company, valued at approximately $21,876,707.34. This represents a 18.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,103 shares of company stock valued at $5,477,768. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research lowered shares of Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Wall Street Zen raised Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $362.00 price objective on shares of Huntington Ingalls Industries in a research report on Friday, November 7th. TD Cowen upped their target price on Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Bank of America lifted their price target on shares of Huntington Ingalls Industries from $180.00 to $260.00 and gave the company an “underperform” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $318.57.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.